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Ever since the rise of online shopping, it has become increasingly common for customers to walk into a retail store, pull out their cell phones and compare the store’s prices to those of their competitors. However, more recently customers may have noticed a pricing difference across the same store’s digital channels as well. This is [&helli ... Read More

Multichannel retailing is a set of activities concerned with selling goods or services to consumers through more than one channel. A multichannel pricing strategy is where a business will offer their customers different prices depending on where they chose to shop. The common practice is to offer customers lower prices via an online channel. This ... Read More

Many traditional and e-commerce businesses are seasonal, and this seasonality will affect different industries in different ways. Stock control is one of the biggest challenges that surges in demand and seasonality will place on a business and its inventory stock. Seasonal demand fluctuations can also impact staffing, scheduling operations and more ... Read More

Many traditional and e-commerce businesses are seasonal, and this seasonality will affect different industries in different ways. Stock control is one of the biggest challenges that surges in demand and seasonality will place on a business. Seasonal demand fluctuations can also impact staffing, scheduling operations and more critically, cash flow. ... Read More

Retail is constantly evolving and retailers are always seeking to adapt their pricing strategies to reflect these changes. Retailers are in an interesting predicament when it comes to balancing prices between brick-and-mortar stores and online shops. By understanding pricing techniques in either scenario, it will allow a retailer to compete well in ... Read More

One of the hardest questions for retail SMEs to answer is how to set prices that are both competitive and profitable. After all, it’s not just a matter of taking ordering cost and adding a markup. Getting it right can be the difference between business success and a string of losses. So it’s important for […] ... Read More

Pricing strategically is at the heart of all retail competition, but pricing products is no easy task. Getting it wrong can have a dramatic impact on your sales, directly affecting revenue streams. Although there are many factors that contribute to a consumer’s final choice, such as brand loyalty, purchase occasion, perceived product value, price ... Read More

A pricing strategy that allows discounts for bulk purchasing, volume pricing offers financial incentives for consumers to purchase products and/or services in high volumes. Volume pricing can motivate purchasing behaviours where a customer will buy in bulk to simply to achieve a discount. If your business operates in a highly competitive environmen ... Read More

Most small businesses are focussed on growing their revenue, market share and, in the long run, their profitability. A wide range of factors can affect a business’ growth, but one of the most important is the business’ pricing strategy. A smart pricing strategy involves working out the price point that maximises revenue growth, increases market ... Read More

Most small businesses are trying to grow their market share and revenue. This typically means thinking deeply about one of the major factors affecting inventory management: pricing strategy. Set prices too high and you’ll lose market share, but go too low and you risk leaving revenue on the table and compromising your fledgling brand. Tiered ... Read More

Many people, buyers and vendors alike, do not understand the fundamental differences between tiered and volume pricing, and sometimes they even consider them to be the same. Both pricing models reward buying in volume with discounted prices. However, it is detrimental to business to think they are the same, as if their differences are understood [& ... Read More

Volume pricing, simply put, is pricing inventory stock for volume or bulk sales. Though it may seem counter-productive to price items lower, this is a strategic pricing technique when the name of the game is to increase profits. However, it is worth taking the time to understand the psychology behind volume pricing, your customer and […] ... Read More

Trade discounting is important to know about for over production of inventory stock as it can really help you sell inventory stock that would otherwise be obsolete. It can also increase the quantities of inventory stock sold too. Here we explain what trade discounting is and reasons for using trade discounting. What is trade discounting? […] ... Read More

A pricing strategy is an important element of a lucrative business. More than any other element, a pricing strategy directly impacts the amount of profit you make. Choose a pricing strategy that helps you meet your sales objectives, enhances your brand perception and provides the best profit point for market demand. A discount pricing strategy [&he ... Read More

Pricing is important to business as it can mean the difference when it comes to customer satisfaction. Successful businesses want to maximise margins and markup. Unfortunately, businesses are increasingly using these terms as synonyms for the same concept – the difference between the price goods are sold for and the ‘cost of goods sold’. ... Read More

As consumers, we’ve all experienced the way that volume pricing can affect the way we perceive value. Take one slice for $2 or two slices for $3.50? It’s a no brainer – buy two and save one for later. Volume pricing is fundamentally about increasing sales volume, even at the expense of a lower per […] ... Read More

The terms margins and mark-ups are often confused in business and this can be problematic for several reasons. Margin is sales minus the cost of goods sold, while mark-up is the amount by which the cost of a product is increased in order to determine the selling price. Confusing the meaning of these terms can […] ... Read More

Tiered and volume pricing are both great ways to target an audience and encourage consumers to spend. However, the terms are often used interchangeably, whereas in reality they are very different. It’s important to consider pricing as that will play a part in your customers’ overall satisfaction. This article examines each pricing strat ... Read More

There are advantages and disadvantages to offering trade discounts. Among other things, trade discounts can improve cash flow, grow market share and improve customer loyalty. These discounts are also a great tool for inventory control, especially if a company runs into issues such as excess stock. At the same time, offering trade discounts in certa ... Read More

Margin and mark-up have long since been a source of confusion and an improper understanding of the two can lead to some detrimental effects in terms of loss of income. So, delve in with us and learn about mark-ups and margins! What’s in a word Perhaps one of the keys to understanding these concepts is […] ... Read More

A business’ pricing strategy can be make or break when it comes to keeping your customers satisfied. Intuitively, higher prices presumably make customers less satisfied. However, in this article, we examine why pricing strategy is in fact much more complicated. The Problem With Cheap Prices Pricing sends an important message to customers. Researc ... Read More

Balancing Pricing with Ordering Costs Pricing strategy is an extremely important factor that contributes to a business’ overall revenue potential. Implementing prices that are considerably low may attract the customers interest, but it may also fail to offset behind-the-scenes expenses attracted by manufacturing costs, machinery costs and orderin ... Read More